At the end of August, RUNE made a significant breakout from its long-term downtrend channel, signaling a strong trend reversal. Moreover, it was followed by multiple successful retests, adding further credibility to the changing momentum.
In addition to the breakout, RUNE has also formed an inverse head-and-shoulders (H&S) pattern, a classic reversal indicator. This further solidifies that RUNE is poised for a continued bullish move.
Here's what we can do 👇
Entry Strategy: We have two possible entries depending on the market. • Entry 1: A clear break above the $4.5 level. This would confirm the bullish breakout and give more confidence in continuing the upward move. • Entry 2: If RUNE pulls back, a bounce from the $4.2 level after a successful retest offers another substantial entry opportunity. This bounce would affirm the $4.2 level as solid support and a potential higher low.
Targets: • Target 1: $5.0 – This psychological level offers the first apparent resistance and a potential (smaller) profit-taking zone. • Target 2: $6.3 – If RUNE maintains its bullish momentum, this level becomes a key target for further gains.
💡If the broader market remains bullish, we can consider adding higher targets as the trend continues.
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